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What % of a person's pay check should be put into a savings account?
Looking forward to my first pay check in a few weeks, since it's only part time it wont be very big but it was only intended for spending money.
What % of a person's paycheck should be put into a savings account and why?
3 Answers
- ?Lv 78 years agoFavorite Answer
smart folks put atleast 10% of gross.
poor folks won't, don't for various reason.
your job will not be forever.
u will need money for Thin times
- 8 years ago
First pay all your bills, then pay all your debts. Then have a cash cushion of maybe 6 months living expenses. After that is done you can probably put 100% of what is left into long term investments. You have to think this out yourself. Just keep in mind the tried and true saying " a fool and his money are soon parted." Please don't be a fool.
- Anonymous8 years ago
i put 100%
